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Business A former State Street Corp executive engaged in "bait-and switch" by promising to charge several of the bank's clients low fees to execute billions of dollars of trades before secretly applying commissions to them, a U.S. prosecutor said on Monday. 26 Jun 2018 03:15AM Bookmark BOSTON: A former State Street Corp executive engaged in "bait-and switch" by promising to charge several of the bank's clients low fees to execute billions of dollars of trades before secretly applying commissions to them, a U.S. prosecutor said on Monday.Ross McLellan, a former executive vice president, sought to defraud customers including Kuwait's sovereign wealth fund and European pension funds out of millions of dollars, prosecutor William Johnston told a federal jury in Boston.In his closing argument following three weeks of trial, Johnston said the evidence showed McLellan from 2010 to 2011 directed employees to charge customers the hidden commissions in order to "secretly pick the … [Read more...] about Ex-State Street exec pulled ‘bait-and-switch’ on clients: US prosecutor

Business A former State Street Corp executive directed a fraudulent scheme to overcharge several of the bank's clients, including Kuwait's sovereign wealth fund, by applying secret commissions to billions of dollars' worth of trades, a U.S. prosecutor told jurors on Tuesday. 06 Jun 2018 12:10AM Bookmark BOSTON: A former State Street Corp executive directed a fraudulent scheme to overcharge several of the bank's clients, including Kuwait's sovereign wealth fund, by applying secret commissions to billions of dollars' worth of trades, a U.S. prosecutor told jurors on Tuesday.Ross McLellan, a former executive vice president, worked with others to overcharge customers using hidden fees that allowed State Street to earn millions of dollars, Assistant U.S. Attorney Stephen Frank told a federal jury in Boston.In his opening statement at the trial's start, Frank said McLellan, 46, and other executives overcharged customers despite promises the bank made to its large institutional … [Read more...] about Ex-State Street executive cheated clients with secret fees: US prosecutor

By Avi Selk The Washington Post Sat., Feb. 24, 2018 The National Rifle Association lashed out at corporations rushing to abandon it on Saturday, as companies from United Airlines to Best Western have cut ties with the gun lobby group under pressure from a boycott movement following the Feb. 14 high school shooting. Without context, twin announcements from Delta and United Airlines on Saturday morning might look trivial: The end of flight discounts to the NRA’s annual convention, which few outside the gun rights organization likely knew existed before they became boycott targets. “Delta is reaching out to the NRA to let them know we will be ending their contract for discounted rates through our group travel program. We will be requesting that the NRA remove our information from their website,” the airline announced on Twitter. “United is notifying the NRA that we will no longer offer a discounted rate to their annual meeting and we are asking … [Read more...] about NRA responds to boycott movement after United and Delta cut ties in wake of Florida school shooting

A mass shooting that killed 17 people at a Florida high school has spurred a growing number of calls for companies to cut ties with the National Rifle Association (NRA). A number of retailers still offer perks to NRA members. These discounts help retain NRA members, according to Boycott NRA Partners. On February 14, gunman Nikolas Cruz allegedly killed 17 people at Marjory Stoneman Douglas High School in Parkland, Florida. The shooting swiftly reinvigorated a national debate on gun control, with the teenage survivors leading the charge on demands for reform. Some of the backlash has centered on the National Rifle Association (NRA), an organization that promotes gun rights in the United States. As multiple news outlets have noted, the NRA has become a strong political force, due largely to its political donations and millions of members. One big way that the NRA retains its members is through discounts on … [Read more...] about An anti-NRA movement is calling for the boycott of these 19 companies

A mass shooting that killed 17 people at a Florida high school has spurred a growing number of calls for companies to cut ties with the National Rifle Association (NRA). A number of retailers still offer perks to NRA members. They include LifeLock, eHealth, and Norton Security. These discounts help retain NRA members, according to Boycott NRA Partners. On February 14, gunman Nikolas Cruz killed 17 people at Marjory Stoneman Douglas High School in Parkland, Florida. The shooting swiftly reinvigorated a national debate on gun control, with the teenage survivors leading the charge on demands for reform. The backlash has centered on the National Rifle Association (NRA), an organization that promotes gun rights in the United States. As multiple news outlets have noted, the NRA has become a strong political force, due largely to its political donations and millions of members. One big way that the NRA retains its … [Read more...] about A movement to boycott the NRA is growing — here are the companies that haven’t cut ties with the gun-rights group